HGCA: French plan intervention wheat sale
Tuesday, 12 December, 2000 THE EU discussed the possible sale of 500,000t of French intervention wheat on the domestic market on Thursday.
Before the move, French and EU prices had been firm with MATIF trading at around
Following news of the proposal, MATIF January 2001 wheat futures ended Friday over
Cocerals latest crop estimates, published Friday, put EU soft wheat production 5.5 million tonnes above the 1999 harvest at 95.1m tonnes. The increase is mainly due to an 11% rise in planted area.
Of the total, UK wheat is put at 16.3m tonnes, up 0.9m tonnes from last year. EU barley production was put 3m tonnes higher at 51.7m tonnes.
Hi-pro soyameal saw strong demand underpinning prices following the EUs ban on the use of meat and bonemeal in animal feeds.
Monday saw the Commission agree a blanket ban for 6 months starting 1 January. The use of fishmeal was excluded from the EU ban.
116 – at a premium to intervention – for much of the last month. 2 lower at 113.75/t.1 = 60.64p at time of writing
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Taken from HGCA weekly MI Bulletin To contact the HGCA phone 020 7520 3972 Click here to visit the Home-Grown Cereals Authority |
